JPMB vs. PCY
Compare and contrast key facts about JPMorgan USD Emerging Markets Sovereign Bond ETF (JPMB) and Invesco Emerging Markets Sovereign Debt ETF (PCY).
JPMB and PCY are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. JPMB is a passively managed fund by JPMorgan Chase that tracks the performance of the J.P. Morgan Emerging Markets Risk-Aware Bond Index. It was launched on Jan 29, 2018. PCY is a passively managed fund by Invesco that tracks the performance of the DB Emerging Market USD Liquid Balanced Index. It was launched on Oct 11, 2007. Both JPMB and PCY are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: JPMB or PCY.
Key characteristics
| JPMB | PCY | |
|---|---|---|
| YTD Return | 3.99% | 6.63% |
| 1Y Return | 13.09% | 20.85% |
| 3Y Return (Ann) | -1.90% | -2.27% |
| 5Y Return (Ann) | 0.10% | -0.77% |
| Sharpe Ratio | 1.67 | 1.88 |
| Sortino Ratio | 2.47 | 2.71 |
| Omega Ratio | 1.30 | 1.33 |
| Calmar Ratio | 0.69 | 0.77 |
| Martin Ratio | 7.40 | 9.57 |
| Ulcer Index | 1.64% | 2.02% |
| Daily Std Dev | 7.26% | 10.32% |
| Max Drawdown | -26.33% | -49.14% |
| Current Drawdown | -6.66% | -9.16% |
Correlation
The correlation between JPMB and PCY is 0.87, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Performance
JPMB vs. PCY - Performance Comparison
In the year-to-date period, JPMB achieves a 3.99% return, which is significantly lower than PCY's 6.63% return. The chart below displays the growth of a $10,000 investment in both assets, with all prices adjusted for splits and dividends.
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JPMB vs. PCY - Expense Ratio Comparison
JPMB has a 0.39% expense ratio, which is lower than PCY's 0.50% expense ratio.
Risk-Adjusted Performance
JPMB vs. PCY - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for JPMorgan USD Emerging Markets Sovereign Bond ETF (JPMB) and Invesco Emerging Markets Sovereign Debt ETF (PCY). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
Dividends
JPMB vs. PCY - Dividend Comparison
JPMB's dividend yield for the trailing twelve months is around 6.11%, less than PCY's 6.42% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
JPMB JPMorgan USD Emerging Markets Sovereign Bond ETF | 6.11% | 5.99% | 4.94% | 4.29% | 4.28% | 4.51% | 4.58% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
PCY Invesco Emerging Markets Sovereign Debt ETF | 6.42% | 6.48% | 6.81% | 4.80% | 4.45% | 4.79% | 4.93% | 4.80% | 5.20% | 5.46% | 4.58% | 4.69% |
Drawdowns
JPMB vs. PCY - Drawdown Comparison
The maximum JPMB drawdown since its inception was -26.33%, smaller than the maximum PCY drawdown of -49.14%. Use the drawdown chart below to compare losses from any high point for JPMB and PCY. For additional features, visit the drawdowns tool.
Volatility
JPMB vs. PCY - Volatility Comparison
The current volatility for JPMorgan USD Emerging Markets Sovereign Bond ETF (JPMB) is 2.05%, while Invesco Emerging Markets Sovereign Debt ETF (PCY) has a volatility of 3.00%. This indicates that JPMB experiences smaller price fluctuations and is considered to be less risky than PCY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.